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Board OKs retirement incentive program: 75% of annual contract, $60,000 cap, $400,000 budget target
Summary
The board approved a retirement-incentive program offering 75% of an eligible employee's annual contract (capped at $60,000) with a $400,000 program allocation; 22 employees were identified as eligible and the application window closes June 9.
The Natchitoches Parish School Board approved a retirement-incentive program that offers eligible employees 75% of their annual contract up to a $60,000 cap, with the program budgeted at $400,000.
Administration said 22 district employees currently meet the Teachers’ Retirement System of Louisiana (TRSL) eligibility criteria and will receive emailed applications if the board ratified the program. Staff explained the cap does not reduce other payouts (annual leave and accrued sick leave) and that sales-tax supplemental checks typically paid in July are not part of the incentive calculation. The board’s administration estimated that, depending on take-up, the initiative could yield between roughly $500,000 and $1 million in ongoing savings over time by eliminating positions through attrition and not filling them.
Key program details recorded in the meeting: the incentive equals 75% of an eligible employee’s annual contract (not supplemental sales-tax checks), the district will cap each payment at $60,000, the overall program allocation is $400,000, and the application deadline is June 9. Administration described the program as voluntary; staff will time-stamp applications and approvals and emphasized there is no retroactive acceptance after the deadline. The board approved the program by roll-call vote; one board member voted no.
